BrightSpring Health Services (NASDAQ:BTSG) Reaches New 1-Year High After Insider Buying Activity

BrightSpring Health Services, Inc. (NASDAQ:BTSG)’s share price reached a new 52-week high on Monday after an insider bought additional shares in the company. The stock traded as high as $14.43 and last traded at $14.22, with a volume of 150542 shares. The stock had previously closed at $13.85.

Specifically, major shareholder Kkr Group Partnership L.P. acquired 11,619,998 shares of the stock in a transaction on Wednesday, September 11th. The shares were purchased at an average price of $11.13 per share, for a total transaction of $129,330,577.74. Following the transaction, the insider now directly owns 92,959,984 shares of the company’s stock, valued at $1,034,644,621.92. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website.

Analyst Ratings Changes

A number of brokerages have recently issued reports on BTSG. BTIG Research began coverage on shares of BrightSpring Health Services in a research report on Friday, June 21st. They issued a “buy” rating and a $15.00 target price for the company. The Goldman Sachs Group cut their price objective on shares of BrightSpring Health Services from $21.00 to $18.00 and set a “buy” rating for the company in a report on Friday, August 9th. Twelve analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $15.32.

BrightSpring Health Services Price Performance

The business’s fifty day moving average price is $12.15 and its 200 day moving average price is $11.11. The company has a quick ratio of 1.00, a current ratio of 1.33 and a debt-to-equity ratio of 1.62.

BrightSpring Health Services (NASDAQ:BTSG) last released its quarterly earnings data on Friday, August 2nd. The company reported $0.10 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.08). The company had revenue of $2.73 billion for the quarter, compared to analyst estimates of $2.61 billion. The firm’s revenue was up 26.0% compared to the same quarter last year. As a group, analysts anticipate that BrightSpring Health Services, Inc. will post 0.57 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. nVerses Capital LLC bought a new position in BrightSpring Health Services in the 2nd quarter valued at approximately $55,000. Ameritas Investment Partners Inc. bought a new position in shares of BrightSpring Health Services during the first quarter valued at $58,000. California State Teachers Retirement System acquired a new position in shares of BrightSpring Health Services during the first quarter worth $59,000. Zurcher Kantonalbank Zurich Cantonalbank bought a new stake in shares of BrightSpring Health Services in the second quarter worth $126,000. Finally, Arizona State Retirement System bought a new stake in shares of BrightSpring Health Services in the second quarter worth $163,000.

BrightSpring Health Services Company Profile

BrightSpring Health Services, Inc operates a home and community-based healthcare services platform in the United States. The company's platform focuses on delivering pharmacy and provider services, including clinical and supportive care in home and community settings to Medicare, Medicaid, and insured populations.